This paper introduces an emerging interdisciplinary research field,namely neuroeconomics,which uses the neuroscientific methods to investigate the neural systems supporting economically relevant behaviors. Traditional...This paper introduces an emerging interdisciplinary research field,namely neuroeconomics,which uses the neuroscientific methods to investigate the neural systems supporting economically relevant behaviors. Traditional economic research is restricted to the level of describing decision behaviors,leaving the cognitive mechanisms behind them unknown. It also fails to predict many decision behav-iors in real life. The combination of neuroscience and economics makes it possible to uncover the underlying mental and neural processes of economic decision making. This paper reviews the findings from the neuroeconomic literature on encoding of utility in the brain,showing that neuroeconomic re-search can test the validity of economic concepts and theories and provide new explanations to eco-nomic phenomenon. It discusses the important role the emotion plays in economic decision making and the associated neural evidence,suggesting the possibility of understanding the impact of emotion upon decision making by measuring the neural activity of emotion-related brain regions. This paper also summarizes neuroscientific studies on cooperation and trust in monetary games,pointing out that the trend of neuroeconomic research is to model the real life decision making in the laboratory with solid ecological validity. Neuroeconomics provides not only neuroscientific evidence for economic theories,such as the prospect theory,the regret theory and the game theory,but also foundations for more comprehensive and powerful economic models.展开更多
Social discounting has been attracting attention in behavioral psychology, econophysics, and neuroeconomics. Several mathematical models have been proposed for social discounting;exponential discounting, hyperbolic di...Social discounting has been attracting attention in behavioral psychology, econophysics, and neuroeconomics. Several mathematical models have been proposed for social discounting;exponential discounting, hyperbolic discounting, a q-exponential discounting model based on Tsallis’ statistics. In order to experimentally examine the mathematical characteristics of the q-exponential social discounting models for gain and loss in humans, we estimated the parameters of the q-exponential social discounting models by assessing the points of subjective equality (indifference points) at seven social distances. We observed that gain was more steeply social-discounted than loss. Usefulness of the q-exponential social discounting model in social physics, econophysics, and cultural neuroeconomics are discussed.展开更多
Introduction: Impulsivity in intertemporal choice has been operationalized as “delay discounting,” referring to the preference for a sooner, smaller reward in neuroeconomics. It is reportedly associated with the dop...Introduction: Impulsivity in intertemporal choice has been operationalized as “delay discounting,” referring to the preference for a sooner, smaller reward in neuroeconomics. It is reportedly associated with the dopaminergic systems. Dopamine receptor D2 (DRD2) is the D2 subtype of the dopamine receptor of the G-protein coupled receptor family. The aim of this study was to explore the effect of single nucleotide polymorphisms (SNPs) in DRD2 gene on delay discounting. Methods: The participants consisted of 91 healthy Japanese people (66 males and 25 females with a mean age of 40.9 ± 6.9 years). Each participant completed the Kirby’s monetary choice questionnaire (MCQ) for delayed gain and donated a whole blood sample. Two SNPs (C957T (rs6277) and TaqI A (rs1800497)) in DRD2 were genotyped by using the DigiTag2 assay. SNP linear regression analyses with 100,000 permutations were conducted for the hyperbolic time-discount rate (k). Results: The SNP C957T showed a significant association;participants with more minor alleles (T) were more impulsive in intertemporal choice for delayed gain (multiplicity-corrected P = 0.041 with a small effect size). Conclusion: The variation in the DRD2 gene is associated with impulsive decision-making. This is the first study to demonstrate an association between DRD2 and impulsivity in intertemporal choice with a multiplicity-corrected significance.展开更多
Probability discounting is defined as the devaluation of outcomes as the probability of receiving or paying those decreases. A q-exponential probability discounting model based on Tsallis’ statistics has been propose...Probability discounting is defined as the devaluation of outcomes as the probability of receiving or paying those decreases. A q-exponential probability discounting model based on Tsallis’ statistics has been proposed in econophysics (Takahashi, 2007, Physica A). We examined (a) fitness of the models to behavioral data of probability discounting of both gain and loss;and (b) relationships between parameters in the q-exponential probability discounting model across gain and loss. Our results demonstrated that, for both gain and loss, the q-exponential model better fits the behavioral data than exponential and hyperbolic functions, and there is the sign effect in q-exponential probability discounting. Relationships between Kahneman-Tversky’s prospect theory in behavioral economics and the q-exponential probability discounting are high-lightened.展开更多
Anomalies in decision over time (e.g., “hyperbolic time discounting”) and under risk (e.g., Allais paradox and hyperbolic probability discounting) have been attracting attention in behavioral and neuroeconomics. We ...Anomalies in decision over time (e.g., “hyperbolic time discounting”) and under risk (e.g., Allais paradox and hyperbolic probability discounting) have been attracting attention in behavioral and neuroeconomics. We have proposed that psychophysical time commonly explains anomalies in both decisions (Takahashi, 2011, Physica A;Takahashi et al., 2012, J Behav Econ & Finance). By adopting the q-exponential time and probability discounting models, our psychophysical and behavioral economic experiment confirmed that nonlinear distortion of psychophysical time is a common cause of the anomalies in decision both over time and under risk (i.e., intertemporal choice and decision under risk). Implications for psychophysical neuroeconomics and econophysics are discussed.展开更多
Whether people tend to punish criminals in a socially-optimal manner (i.e., hyperbolic punishment) or not is unknown. By adopting mathematical models of probabilistic punishment behavior (i.e., exponential, hyperbolic...Whether people tend to punish criminals in a socially-optimal manner (i.e., hyperbolic punishment) or not is unknown. By adopting mathematical models of probabilistic punishment behavior (i.e., exponential, hyperbolic, and q-exponential probability discounting model based on Tsallis thermodynamics and neuroeconomics, Takahashi, 2007, Physica A;Takahashi et al., 2012, Applied Mathematics), we examined 1) fitness of the models to behavioral data of uncertain punishment, and 2) deviation from the socially optimal hyperbolic punishment function. Our results demonstrated that, the q-exponential punishment function best fits the behavioral data, and people overweigh the severity of punishment at small punishing probabilities and underweigh the severity of punishment at large punishing probabilities. In other words, people tend to punish crimes too severely and mildly with high and low arrest rate (e.g., homicide vs. excess of speed limit), respectively. Implications for neuroeconomics and neurolaw of crime and punishment (Takahashi, 2012, NeuroEndocrinology Letters) are discussed.展开更多
Mathematical frameworks of quantum theory have recently been adopted in cognitive and behavioral sciences, to explain the violations of normative decision theory and anomalies in cognition. However, to date, no study ...Mathematical frameworks of quantum theory have recently been adopted in cognitive and behavioral sciences, to explain the violations of normative decision theory and anomalies in cognition. However, to date, no study has attempted to explore neural implementations of such “quantum-like” information processing in the brain. This study demonstrates that neural population coding of information with nonlinear neural response functions can account for such “quantum” information processing in decision-making and cognition. It is also shown that quantum decision theory is a special case of more general population vector cording theory. Future applications of the present theory in the rapidly evolving field of “psychophysical neuroeconomics” are also discussed.展开更多
In mathematical physics and psychology, “quantum decision theory” has been proposed to explain anomalies in human decision-making. One of such quantum models has been proposed to explain time inconsistency in human ...In mathematical physics and psychology, “quantum decision theory” has been proposed to explain anomalies in human decision-making. One of such quantum models has been proposed to explain time inconsistency in human decision over time. In this study, we conducted a behavioral experiment to examine which quantum decision models best account for human intertemporal choice. We observed that a q-exponential model developed in Tsallis’ thermodynamics (based on Takahashi’s (2005) nonlinear time perception theory) best fit human behavioral data for both gain and loss, among other quantum decision models.展开更多
基金Supported by the National Pandeng Project (Grant No. 95-special-09)the Natural Science Foundation of China (Grant Nos. 30070260, 30470569 and 60435010)the Ministry of Education of China (Grant Nos. 01002 and 02170)
文摘This paper introduces an emerging interdisciplinary research field,namely neuroeconomics,which uses the neuroscientific methods to investigate the neural systems supporting economically relevant behaviors. Traditional economic research is restricted to the level of describing decision behaviors,leaving the cognitive mechanisms behind them unknown. It also fails to predict many decision behav-iors in real life. The combination of neuroscience and economics makes it possible to uncover the underlying mental and neural processes of economic decision making. This paper reviews the findings from the neuroeconomic literature on encoding of utility in the brain,showing that neuroeconomic re-search can test the validity of economic concepts and theories and provide new explanations to eco-nomic phenomenon. It discusses the important role the emotion plays in economic decision making and the associated neural evidence,suggesting the possibility of understanding the impact of emotion upon decision making by measuring the neural activity of emotion-related brain regions. This paper also summarizes neuroscientific studies on cooperation and trust in monetary games,pointing out that the trend of neuroeconomic research is to model the real life decision making in the laboratory with solid ecological validity. Neuroeconomics provides not only neuroscientific evidence for economic theories,such as the prospect theory,the regret theory and the game theory,but also foundations for more comprehensive and powerful economic models.
文摘Social discounting has been attracting attention in behavioral psychology, econophysics, and neuroeconomics. Several mathematical models have been proposed for social discounting;exponential discounting, hyperbolic discounting, a q-exponential discounting model based on Tsallis’ statistics. In order to experimentally examine the mathematical characteristics of the q-exponential social discounting models for gain and loss in humans, we estimated the parameters of the q-exponential social discounting models by assessing the points of subjective equality (indifference points) at seven social distances. We observed that gain was more steeply social-discounted than loss. Usefulness of the q-exponential social discounting model in social physics, econophysics, and cultural neuroeconomics are discussed.
文摘Introduction: Impulsivity in intertemporal choice has been operationalized as “delay discounting,” referring to the preference for a sooner, smaller reward in neuroeconomics. It is reportedly associated with the dopaminergic systems. Dopamine receptor D2 (DRD2) is the D2 subtype of the dopamine receptor of the G-protein coupled receptor family. The aim of this study was to explore the effect of single nucleotide polymorphisms (SNPs) in DRD2 gene on delay discounting. Methods: The participants consisted of 91 healthy Japanese people (66 males and 25 females with a mean age of 40.9 ± 6.9 years). Each participant completed the Kirby’s monetary choice questionnaire (MCQ) for delayed gain and donated a whole blood sample. Two SNPs (C957T (rs6277) and TaqI A (rs1800497)) in DRD2 were genotyped by using the DigiTag2 assay. SNP linear regression analyses with 100,000 permutations were conducted for the hyperbolic time-discount rate (k). Results: The SNP C957T showed a significant association;participants with more minor alleles (T) were more impulsive in intertemporal choice for delayed gain (multiplicity-corrected P = 0.041 with a small effect size). Conclusion: The variation in the DRD2 gene is associated with impulsive decision-making. This is the first study to demonstrate an association between DRD2 and impulsivity in intertemporal choice with a multiplicity-corrected significance.
文摘Probability discounting is defined as the devaluation of outcomes as the probability of receiving or paying those decreases. A q-exponential probability discounting model based on Tsallis’ statistics has been proposed in econophysics (Takahashi, 2007, Physica A). We examined (a) fitness of the models to behavioral data of probability discounting of both gain and loss;and (b) relationships between parameters in the q-exponential probability discounting model across gain and loss. Our results demonstrated that, for both gain and loss, the q-exponential model better fits the behavioral data than exponential and hyperbolic functions, and there is the sign effect in q-exponential probability discounting. Relationships between Kahneman-Tversky’s prospect theory in behavioral economics and the q-exponential probability discounting are high-lightened.
文摘Anomalies in decision over time (e.g., “hyperbolic time discounting”) and under risk (e.g., Allais paradox and hyperbolic probability discounting) have been attracting attention in behavioral and neuroeconomics. We have proposed that psychophysical time commonly explains anomalies in both decisions (Takahashi, 2011, Physica A;Takahashi et al., 2012, J Behav Econ & Finance). By adopting the q-exponential time and probability discounting models, our psychophysical and behavioral economic experiment confirmed that nonlinear distortion of psychophysical time is a common cause of the anomalies in decision both over time and under risk (i.e., intertemporal choice and decision under risk). Implications for psychophysical neuroeconomics and econophysics are discussed.
文摘Whether people tend to punish criminals in a socially-optimal manner (i.e., hyperbolic punishment) or not is unknown. By adopting mathematical models of probabilistic punishment behavior (i.e., exponential, hyperbolic, and q-exponential probability discounting model based on Tsallis thermodynamics and neuroeconomics, Takahashi, 2007, Physica A;Takahashi et al., 2012, Applied Mathematics), we examined 1) fitness of the models to behavioral data of uncertain punishment, and 2) deviation from the socially optimal hyperbolic punishment function. Our results demonstrated that, the q-exponential punishment function best fits the behavioral data, and people overweigh the severity of punishment at small punishing probabilities and underweigh the severity of punishment at large punishing probabilities. In other words, people tend to punish crimes too severely and mildly with high and low arrest rate (e.g., homicide vs. excess of speed limit), respectively. Implications for neuroeconomics and neurolaw of crime and punishment (Takahashi, 2012, NeuroEndocrinology Letters) are discussed.
文摘Mathematical frameworks of quantum theory have recently been adopted in cognitive and behavioral sciences, to explain the violations of normative decision theory and anomalies in cognition. However, to date, no study has attempted to explore neural implementations of such “quantum-like” information processing in the brain. This study demonstrates that neural population coding of information with nonlinear neural response functions can account for such “quantum” information processing in decision-making and cognition. It is also shown that quantum decision theory is a special case of more general population vector cording theory. Future applications of the present theory in the rapidly evolving field of “psychophysical neuroeconomics” are also discussed.
文摘In mathematical physics and psychology, “quantum decision theory” has been proposed to explain anomalies in human decision-making. One of such quantum models has been proposed to explain time inconsistency in human decision over time. In this study, we conducted a behavioral experiment to examine which quantum decision models best account for human intertemporal choice. We observed that a q-exponential model developed in Tsallis’ thermodynamics (based on Takahashi’s (2005) nonlinear time perception theory) best fit human behavioral data for both gain and loss, among other quantum decision models.
